UPDATE: Morgan Keegan Lowers PT to $55 on Shutterfly

A report from Morgan Keegan reiterates its Outperform rating and lowers its price target from $60 to $55 on Shutterfly

. The report states, “Guidance is the big question given it implies an acceleration from Q3 levels. Our perspective is Tiny Prints was held down by price experiments, and that trends have already begun to bounce back. Maintain Outperform but trim PT from $60 to $55 on updated DCF." SFLY closed yesterday at $47.60.